×

Deterministic models of perishable inventory with stock-dependent demand rate and nonlinear holding cost. (English) Zbl 0955.90003

Summary: This paper deals with an extended EOQ-type inventory model for a perishable product where the demand rate is a function of the on-hand inventory. The traditional parameters of unit item cost and ordering cost are kept constant; but the holding cost is treated as (i) a nonlinear function of the length of time for which the item is held in stock, and (ii) a functional form of the amount of the on-hand inventory. The approximate optimal solutions in both cases are derived. Computational results are presented indicating the effects of nonlinearity in holding costs.

MSC:

90B05 Inventory, storage, reservoirs
PDFBibTeX XMLCite
Full Text: DOI

References:

[1] Aggarwal, S. P., Note on: An order level lot size inventory model for deteriorating items by Y.K. Shah, AIIE Transactions, 11, 344-346 (1979)
[2] Baker, R. C.; Urban, T. L., A deterministic inventory system with an inventory level dependent demand rate, Journal of the Operational Research Society, 39, 823-831 (1988) · Zbl 0659.90040
[3] Covert, R. P.; Philip, G. C., An EOQ model for items with Weibull distribution deterioration, AIIE Transactions, 5, 323-326 (1973)
[4] Datta, T. K.; Pal, A. K., A note on an inventory model with inventory level dependent demand rate, Journal of the Operational Research Society, 41, 971-975 (1990) · Zbl 0725.90028
[5] Ghare, P. M.; Schrader, G. F., A model for an exponentially decaying inventory, Journal of Industrial Engineering, 14, 238-243 (1963)
[6] Goh, M., EOQ models with general demand and holding cost functions, European Journal of Operational Research, 73, 50-54 (1994) · Zbl 0809.90039
[7] Levin, R. I.; McLaughlin, C. P.; Lamone, R. P.; Kottas, J. F., (Productions/Operations Management: Contemporary Policy for Managing Operating Systems (1972), McGraw-Hill: McGraw-Hill New York), 373
[8] Mondal, B. N.; Phaujder, S., An inventory model for deteriorating items and stock-dependent consumption rate, Journal of the Operational Research Society, 40, 5, 483-488 (1989) · Zbl 0672.90036
[9] Muhlemann, A. P.; N. P., Valtis Spanopoulos, A variable holding cost rate EOQ model, European Journal of Operational Research, 4, 132-135 (1980) · Zbl 0421.90026
[10] Naddor, E., (Inventory Systems (1966), Wiley: Wiley New York)
[11] Nahmias, S., Perishable inventory theory: A review, Operations Research, 30, 680-708 (1982) · Zbl 0486.90033
[12] Pal, S.; Goswam, A.; Chaudhuri, K., A deterministic inventory model for deteriorating items with stock-dependent demand rate, Journal of Production Economics, 32, 291-299 (1993)
[13] Philip, G. C., A generalised EOQ model for items with Weibull distribution deterioration, AIIE Transactions, 6, 108-112 (1974)
[14] E.A. Silver, R. Peterson, Decision Systems for Inventory Management and Production Planning, 2nd edition, Wiley, New York.; E.A. Silver, R. Peterson, Decision Systems for Inventory Management and Production Planning, 2nd edition, Wiley, New York.
[15] Tadikamalla, P. R., An EOQ model for items with gamma distribution deterioration, AIIE Transaction, 10, 100-103 (1978)
[16] Urban, T. L., An inventory model with an inventory-level-dependent demand rate and relaxed terminal conditions, Journal of the Operational Research Society, 43, 7, 721-724 (1992) · Zbl 0825.90335
[17] Van der Veen, B., (Introduction to the Theory of Operational Research, Philips Technical Library (1967), Springer-Verlag: Springer-Verlag New York) · Zbl 0155.28002
[18] Weiss, H. J., Economic order quantity models with nonlinear holding cost, European Journal of Operational Research, 9, 56-60 (1982) · Zbl 0471.90041
This reference list is based on information provided by the publisher or from digital mathematics libraries. Its items are heuristically matched to zbMATH identifiers and may contain data conversion errors. In some cases that data have been complemented/enhanced by data from zbMATH Open. This attempts to reflect the references listed in the original paper as accurately as possible without claiming completeness or a perfect matching.